KARACHI: Adil Bashir, Chairman All Pakistan Textile Mills Association (APTMA) has said that any distortion in policy of free market mechanism from cotton to garment in textile supply chain will be a disaster for the textile exports of Pakistan.
He said that Pakistan is short of cotton by approximately half of its requirements or 7 million bales. However, the 14 million bales consuming $ 8 billion spinning industry 3rd largest in the world after China and India, is standing solid to meet the requirements of downstream. He mentioned that only 50 percent is consumed by the value-added garments and home textile exporting $ 9 billion, while the balance 50 percent is exported in form of yarn and fabric amounted to $ 5 billion.
As the new cotton season approaches in July international Prices of cotton are at 90 cents delivered Pakistan from Brazil, USA and WAF. It is a hope for complete chain that cotton farmers are seeing prices at these levels after 2011 and are encouraged for cotton plantation which is higher in parity compared to other crops, he mentioned.
Chairman APTMA said that free market mechanism ensure international prices to the complete chain from cotton to dyed fabrics which is why Pakistan sustained the biggest crop failure this year and still is on path of growth by 20 percent in exports specially because of regional energy tariff of 6.5 dollars for gas and 7.5 cents for electricity.—PR
Copyright Business Recorder, 2021